LAGOS OCTOBER 25TH (NEWSRANGERS)-The International Monetary Fund (IMF) has denied being behind the removal of fuel subsidy in Nigeria. Speaking on Friday at a press briefing on the sidelines of the IMF and World Bank Annual Meetings in Washington DC, United States, Abebe Selassie, IMF’s African Region Director, described the decision to remove fuel subsidy…
LAGOS MARCH 6TH (NEWSRANGERS)-Nigeria’s government must urgently address growing food insecurity, with almost one in 10 people facing hunger, the International Monetary Fund said. Nigeria is implementing a series of economic reforms that have fuelled a cost of living crisis in Africa’s most populous nation. The removal of fuel subsidies and liberalization of currency controls,…
LAGOS FEBRUARY 8TH (NEWSRANGERS)-The International Monetary Fund (IMF) has insisted on the removal of fuel subsidy by the Nigerian authorities. The position of the organization was contained in the Executive Board’s conclusion of the Article IV consultation with Nigeria report, which was released, yesterday. According to the Fund’s statement on the report, “Directors also urged…
LAGOS JUNE 11TH (NEWSRANGERS)-A spokesman for the IMF on Thursday warned of the risks of using bitcoin for day-to-day transactions after El Salvador, which is in negotiations for additional funds from the crisis lender, approved the cryptocurrency’s use. An IMF team is scheduled to meet with El Salvador’s President Nayib Bukele later Thursday as the…
LAGOS NOVEMBER 29TH (NEWSRANGERS)-President Muhammadu Buhari on Thursday re-sent the $29.96bn 2016-2018 external borrowing plan to the Senate for its consideration and approval. Buhari made the request a day after the International Monetary Fund warned Nigeria against rising debts. T he Debt Management Office has said out of Nigeria’s total debt profile of N25.7tn as…
LAGOS APRIL 12TH (NEWSRANGERS)-Reports already predicted Ghana as the fastest-growing economy in the world this year, according to the IMF. The lender’s growth forecast of 8.8 per cent for the producer of cocoa, gold and oil dwarfs the 6.6 per cent median in a media survey. The West African country is expected to become the…